Ride it away set to drive record sales in 2016
Posted on in Cycles News
The ACT's Ride it away retail finance scheme looks set to grow even further this year, with early reports showing like-for-like sales are already up vs 2015.
Independent bicycle retail sales are up 13.75%, with over £20m worth of finance already approved since the beginning of 2016 - a figure that wasn't achieved until later in May in 2015. By the end of 2015 finance was responsible for £70m worth of sales - a figure that looks set to be beaten should the trend continue over the coming months.
With over 900 retailers participating in the scheme across the UK, Ride it away retail finance gives consumers the opportunity to purchase anything from £280 - £15,000 and spread the cost over 6 - 48 months with as little as 0% APR.
Since the start of 2016 over 30,000 people have applied for finance through their local IBD - up 21% vs 2015. Whether due to greater brand awareness or a greater desire to spread the cost, bicycle finance is on the rise.
As the scheme grows, now is the perfect time to start offering finance and make the most of the thousands of potential new customers looking to spread the cost.
Ride it away is available to any cycles business* who will benefit from:
- Free V12 set-up worth £495
- Personal support throughout the application and FCA authorisation process
- No minimum finance turnover requirement
- Payment issued by V12 same day and in your bank within 4 days
- National promotion on the Ride it away consumer website
- Access to FCA compliant POS material
- Access to web banners for use on your own website
Click here for more information about the Ride it away scheme
If you aren't yet offering finance, contact us to see why Ride it away is the right solution for you.
Already offering finance? Don't forget to order in-store POS and download free web banners to show your customers finance is available!
*Ride it away is exclusively available to members of the ACT. Subject to terms and conditions, including but not limited to, a minimum 12 month trading history, the business declaring a positive net worth and the search results of credit reference agencies